Now that it finally looks as though Australia has a government – or, more accurately, Australia knows that there's a single option for that government we still don't technically have – one's thoughts trip lightly to the many, many, many issues surrounding how said government will work.

One is the identity of the Speaker of the House, a vital role taken on for the past nine months by Victorian Liberal MP Tony Smith. And there's no strong reason to replace him – he's been generally recognised as having done an excellent job, especially by comparison with his cartoonishly partisan and vindictive predecessor Bronwyn Bishop – but there's a teeny-tiny-itsy-witsy little problem with the way that the numbers in the lower house have shaken out.

As you're likely aware, there are 150 members of the House of Representatives. For a party to form government they must win at least half of those, plus one – 76 – in order to have a majority, the argument being that any less than 76 prevents the government from being able to pass its own legislation, thereby calling into question whether it's actually a government at all.

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At the moment the government have 76 seats, minors and independents have five, and Labor have 68. The Queensland seat of Herbert is the only one undecided.

"I don't care if Tony Smith's the Speaker now: if he wants his chair back, he's going to need a lot of gumption and a crowbar."Credit:Alex Ellinghausen

And the Speaker cannot vote on legislation.

Most of the time this doesn't make a difference because the government has enough of a buffer to safely lose one of their MPs to the big chair, but when there's a knife edge result, one might be one too many.

If Herbert goes to the Coalition, that's all fine and presumably Smith keeps his gig.

But if it goes to Labor, things are going to be very, very interesting.

So, what are the options?

1. Tony Smith

As mentioned above, he's done a fine job thus far and has also presumably adjusted the Speaker's chair just the way he likes it.

However, if the Coalition only have 76 seats, this would mean dropping to 75, leaving them dependent on either Labor or the five independents to give the necessary votes. More, if someone in the government gets a bad cold or needs to give birth in the next three years.

And while independents Andrew Wilkie, Cathy McGowan and Bob Katter have all given the government their support, that's not going to bind them to voting along government lines.

The agreement which they have made only obliges them to not block supply (ie: pass the laws that authorise the money that keeps the government running) and not to move a motion of no confidence in the government. Everything else is fair game.

The other two crossbenchers - Greens MP Adam Bandt and NXT MP Rebeckha Sharkie - haven't even committed to that, and given that they're part of larger parties with strong upper house representation they be mad to agree to anything that might limit their negotiating power.

Likelihood: High, although unless the numbers change we're in for a rollickin' legislative rollercoaster ride!

2. One of the independents

This was Julia Gillard's strategic move when she was in a similar situation following the 2010 election, appointing ex-LNP MP Peter Slipper who (briefly) reintroduced the wearing of official robes, presumably in recognition that the lower house could really stand to be a bit more fancy.

Likelihood: close to zero. Independents only get voted in because they've convincingly argued that they'll be active and vocal advocates for their constituencies, so taking the Speaker gig is a perfect way to guarantee unemployment after the next election.

3. Someone from Labor

Technically, this is possible, and it's the sort of agile and innovative solution that one could imagine appealing to Turnbull.

It gives a high-profile position of responsibility to someone from the other side, which clearly suggests a commitment to bipartisanship, while also depriving the opposition of a vote, thereby making it easier to get their agenda through. It's win-win!

Likelihood: …except for Labor, of course. Why would they want solve a problem for the Coalition by creating one for themselves?

4. A futuristic hologram of Bronwyn Bishop

She was a great speaker for the Coalition, dispensing with that "impartiality" nonsense that prevented other speakers from throwing out their political adversaries while blithely overlooking un-Parliamentary behaviour from her own side. Why wouldn't they want her back?

It wouldn't even need to respond to what was actually going on in the chamber: just mute it during Coalition speeches and then play "the member for [insert Labor seat here] will leave under section 94(A)" on a loop when the opposition stands up, and it'd be like she never left!

Likelihood: Now that they aren't bothering with all that boring climate change research, the re-directed CSIRO are presumably working on it right now.